ICICI Bank along with CNBC-TV18, India’s leading business channel and Overdrive India’s premier Car and Bike magazine, presented ‘CNBC-TV18 Overdrive Awards 2010’ in Delhi today. The awards focused on the road ahead for the auto industry in the face of increasing need for green technology and environment conservation.

The CNBC-TV18 Overdrive Auto Awards 2010, which were presided over by Honourable Chief Minister of Jammu and Kashmir, Omar Abdullah, witnessed some of the biggest names in Indian auto sector come together to honour the excellence in Indian automobile industry.

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To recognise the contribution of the automobile sector and highlight its forward march, ICICI Bank car loans and CNBC-TV18 presented the CNBC-TV18 Overdrive Awards 2010, the most trusted awards on automobiles for consumers, manufacturers and auto experts alike.

The winners for these defining awards this year were:
 

Speaking on the occasion, Shereen Bhan, Executive Editor, CNBC-TV18 said, “CNBC-TV18 Overdrive Awards are most credible and widely accepted benchmark for automobile excellence today. The awards have served the dual purpose of honouring the best in Indian automobile and bringing together the best minds in the auto sector to discuss the critical issues facing the industry.”

Spokesperson from ICICI Bank said that ICICI Car loans has been an integral part of the auto industry and has played a pivotal role in the critical growth phase of the Automobile industry. It is a pleasure to be part of the event which recognises the best in the Automobiles sector. Going forward also he said the Bank would be playing a industry shaping role. He also mentioned that the Bank has also been pursuing an agenda towards environment accountability under the branding of 'Go Green'. Under 'Go-Green' initiative several actions are underway in the Bank and in keeping with that only the theme for these awards also is kept 'Green'.

Award Methodology: The vehicles vying for honors are scrupulously evaluated by an elite jury comprising of senior editorial staff from OVERDRIVE and automotive experts of national and global renown. Judging is conducted on various parameters based on quality, value and relevance to the Indian automotive context. The results are only disclosed at the glittering awards night, to ensure fair and unbiased verdicts.

In 2008, OVERDRIVE initiated a pioneering award for eco-friendly initiatives by car manufacturers and agencies. This continues this year with the inclusion of a ‘Green Award’ and a ‘Safety Award’. Keeping in mind consumer benefits, the OVERDRIVE Awards will run separate categories to pick the compact, mid-size and executive cars of the year, along with the coveted Car Of The Year.

All vehicles homologated and introduced in India, in the calendar year 2008 are eligible for the OVERDRIVE Car, Bike and UV/SUV Awards. Engine changes to an existing vehicle will not make the vehicle eligible though a mechanical change or body style alteration which significantly alters a vehicle’s positioning will make it eligible. CBU imports introduced in India in 2008 and with a run under 250 units for cars, 100 units for SUVs and 200 units for bikes qualify for the Import of the Year award.

The objective of the award is to find a single, decisive winner. The voting process, therefore, is designed to pick one outstanding contender and not to provide a scale of merit of the competing cars. A jury consisting of a minimum of five persons is entrusted with the task of voting. Each jury member is an expert in evaluating cars and has a fair amount of experience with a wide range of vehicles. The jury will be assisted by the objective test data and analysis by Overdrive India, which has exhaustively tested all the eligible vehicles.

The winners were selected by an eminent jury consisting of Hari Singh, five time Indian National Rally champion, Sirish Chandran, Editor, Overdrive, Bertrand D'Souza, Deputy Editor, Overdrive, Shubhabrata Marmar, Deputy Editor, Overdrive, Gaurav Gill, Indian National Rally champion, Production WRC driver, Vikram Mathias, Former National Rally Champion and Siddharth Lal, CEO, Eicher Motors.

About CNBC TV18: 
CNBC-TV 18 is India's No.1 business medium and the undisputed leader in business news. And its leadership epitomizes the fact that India means business. It delivers quality and involved audiences that comprise a comprehensive viewership base greater than similar offerings in the business space across all media. The channel's benchmark coverage extends from corporate news, financial markets coverage, expert perspective on investing and management to industry verticals and beyond. CNBC-TV18 has been constantly innovating with new genres of programming that helps make business more relevant to different constituencies across the country. CNBC-TV18 is currently available in over 30 million households in India.

About ICICI Bank:
ICICI Bank Ltd (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country with consolidated total assets of about US$ 102 billion at September 30, 2009. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among India's large securities brokerage firm, mutual fund and private equity firm. ICICI Bank’s presence currently spans 19 countries, including India.

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